Immutable’s IMX token fell 12% to about $0.11 after breaking below $0.12 and reaching a low of $0.106, before a slight rebound. Trading volume jumped 218%, while turnover reached a three-week high of $5.06 million as traders reduced exposure and selling pressure intensified. Derivatives data showed Binance Perpetual Sell Volume at 41 million versus 39 million in Buy Volume, while perps bet buying fell to negative $6 million. CoinGlass data showed open interest down 8.4% to $16.7 million, its lowest level since September, as derivatives volume rose 268% to $37 million. Spot Netflow fell to negative $0.4 million on Oct. 30, indicating increased withdrawals from exchanges. IMX’s Relative Strength Index dropped to 26, while its Relative Vigor Index formed a bearish crossover. Continued risk-off sentiment could push IMX back to $0.10, while sustained outflows could reduce selling pressure and help it close at $0.12, supporting a recovery.